Regal Rexnord Corporation (NYSE:RRX) Given Average Rating of “Moderate Buy” by Analysts

Regal Rexnord Corporation (NYSE:RRX) has been assigned an average recommendation of “Moderate Buy” from the ten research firms that are currently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $179.6250.

RRX has been the subject of several research reports. Barclays reiterated an “overweight” rating and set a $165.00 target price on shares of Regal Rexnord in a report on Monday, November 3rd. JPMorgan Chase & Co. decreased their target price on Regal Rexnord from $200.00 to $190.00 and set an “overweight” rating for the company in a research note on Friday, October 31st. Jefferies Financial Group downgraded shares of Regal Rexnord from a “buy” rating to a “hold” rating and decreased their price objective for the company from $170.00 to $160.00 in a research note on Wednesday, December 10th. Zacks Research downgraded Regal Rexnord from a “hold” rating to a “strong sell” rating in a report on Tuesday, November 4th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Regal Rexnord in a research note on Wednesday, October 8th.

Insider Activity at Regal Rexnord

In other news, CEO Louis V. Pinkham sold 35,935 shares of the stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $146.20, for a total value of $5,253,697.00. Following the completion of the transaction, the chief executive officer owned 103,262 shares in the company, valued at $15,096,904.40. This trade represents a 25.82% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.82% of the company’s stock.

Institutional Trading of Regal Rexnord

A number of institutional investors have recently bought and sold shares of the company. Aster Capital Management DIFC Ltd purchased a new stake in Regal Rexnord in the 3rd quarter valued at approximately $27,000. Allworth Financial LP grew its holdings in Regal Rexnord by 85.7% in the second quarter. Allworth Financial LP now owns 195 shares of the company’s stock valued at $28,000 after purchasing an additional 90 shares during the period. Root Financial Partners LLC purchased a new stake in shares of Regal Rexnord during the 3rd quarter valued at $28,000. SJS Investment Consulting Inc. grew its position in Regal Rexnord by 95.1% during the third quarter. SJS Investment Consulting Inc. now owns 199 shares of the company’s stock valued at $29,000 after acquiring an additional 97 shares during the period. Finally, Geneos Wealth Management Inc. grew its holdings in shares of Regal Rexnord by 135.1% during the 1st quarter. Geneos Wealth Management Inc. now owns 221 shares of the company’s stock worth $25,000 after purchasing an additional 127 shares during the period. 99.72% of the stock is currently owned by hedge funds and other institutional investors.

Regal Rexnord Stock Down 2.3%

Shares of NYSE:RRX opened at $144.59 on Wednesday. Regal Rexnord has a 52-week low of $90.56 and a 52-week high of $167.77. The stock has a market cap of $9.60 billion, a P/E ratio of 37.36, a PEG ratio of 1.54 and a beta of 1.11. The business has a fifty day moving average of $141.94 and a two-hundred day moving average of $144.55. The company has a quick ratio of 0.97, a current ratio of 2.05 and a debt-to-equity ratio of 0.71.

Regal Rexnord (NYSE:RRX) last announced its quarterly earnings results on Friday, September 8th. The company reported $2.76 EPS for the quarter. The business had revenue of $1.85 billion for the quarter. Regal Rexnord had a return on equity of 9.64% and a net margin of 4.38%. On average, research analysts expect that Regal Rexnord will post 9.95 earnings per share for the current year.

Regal Rexnord Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 14th. Shareholders of record on Wednesday, December 31st will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Wednesday, December 31st. Regal Rexnord’s payout ratio is currently 36.18%.

About Regal Rexnord

Regal Rexnord Corporation manufactures and sells industrial powertrain solutions, power transmission components, electric motors and electronic controls, air moving products, and specialty electrical components and systems worldwide. The Industrial Powertrain Solutions segment provides mounted and unmounted bearings, couplings, mechanical power transmission drives and components, gearboxes, gear motors, clutches, brakes, special, and industrial powertrain components and solutions for food and beverage, bulk material handling, eCommerce/warehouse distribution, energy, mining, marine, agricultural machinery, turf and garden, and general industrial markets.